Arul Kanda, Mohd Irwan cannot be liable for 1MDB's losses, court hears

KUALA LUMPUR: The High Court here on Monday (July 24) was told that former 1Malaysia Development Berhad (1MDB) chief executive officer Arul Kanda Kandasamy and its former chairman Tan Sri Mohd Irwan Serigar Abdullah cannot be liable for losses incurred by the company due to irregularities committed by others.

Arul Kanda's counsel, Sanjay Mohan, submitted that the issue pertaining to 1MDB's financial losses was raised in 2014, a year before his client's appointment in the company.